Professor Blume is Director of the Rodney L. White Center for Financial Research and Past Chairman of the Finance Department at The Wharton School. He has conducted extensive research into investments, the financial markets, investor behavior, and fixed- income securities. He is a member of the Board of Managers of the Measey Foundation and a past chairman of the NASD Economic Advisory Board. He served on the U.S. Government Accounting Office advisory committee that investigated the October 1987 stock market crash. He is a past managing editor of the Journal of Finance and is currently an editor of the Journal of Fixed Income and Journal of Pension Fund Management & Investment.